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Key Masmovil shareholder accepts KKR, Cinven, Providence takeover bid
2020-09-10 09:26:00| Telecompaper Headlines
(Telecompaper) The third largest shareholder of Spanish operator Masmovil, the Indumenta Pueri holding of children's fashion brand Mayoral, has finally decided to accept the takeover bid by three US funds, said Masmovil in a filing at securities markets regulator CNMV. Mayoral's commercial director Rafael Dominguez had previously rejected the EUR 3 billion offer from KKR, Providence and Cinven as undervaluing the company but has now pledged to tender all of Indumenta Pueri's shares, said the filing. It currently has an 8.25 percent stake in the operator, with the holders of another 30 percent of the company previously committing to accept the EUR 22.50 a share offer.
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TIM approves sale of FiberCop stake to KKR and govt single network plan
2020-09-01 08:56:00| Telecompaper Headlines
(Telecompaper) Telecom Italia (TIM) announced that its directors approved the sale of a minority stake in its last-mile fixed network to US investment fund KKR Infrastructure during a board meeting in which they also backed a government plan to set up a single high-speed broadband network company with rival Open Fiber. The agreement with KKR will see the US firm take a 37.5 percent stake in TIM's last mile fibre and copper grid company FiberCop for EUR 1.8 billion, on the basis of an enterprise value of EUR 7.7 billion and an equity value of EUR 4.7 billion. That deal is expected to be launching pad for the government's plan to merge FiberCop with Open Fiber to create a single network operator
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KKR Makes Bet on Brooklyn Apartment Rentals in $860 Million Deal
2020-08-07 16:59:00| National Real Estate Investor
The alternative asset manager in in contract to purchase a portfolio of newly developed buildings from Bruman Realty.
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Telecom Italia delays final decision on network sale to end-August, says 'favourable' to KKR offer
2020-08-05 08:52:00| Telecompaper Headlines
(Telecompaper) Telecom Italia (TIM) said it supports an offer from KKR Infrastructure to buy a 37.5 percent stake in the new network company FiberCop for EUR 1.8 billion. The binding offer values the company at EUR 7.7 billion in total. TIM said it would start talks immediately with the government on bringing in other investors in the new network operator.
KKR offers TIM 1.8bn for minority stake in last mile grid
2020-08-03 02:00:00| Total Telecom industry news
The Italian government has long been hungry for TIM to consolidate its fibre business with that of state-owned Open Fiber, a move which would greatly increase efficiencies throughout the country. TIM, however, has been reluctant to do so and has repeatedly resisted government pressure…read more on TotalTele.com »
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